Payment delays add as much as 3% to a construction project’s cost. What’s more, those delays have skyrocketed in the Canadian construction industry. Now, as legislators across Canada move to speed up payments—each jurisdiction at its own pace—construction companies have more at stake than ever. This time, prompt payment is becoming law.
This three-page guide explains how you can speed up payments—whether you’re racing to meet a payment deadline or following up on an invoice.
In this guide you will learn:
- How to choose software that speeds up payments
- How to transform documentation from a blocker to a time-saver
- Why 83% of recipients say preliminary notices help speed up payments
- The four different types of lien waivers—and which one you should use
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